Gränges establishes a commercial paper program

Mon, Sep 25, 2017 14:00 CET

Gränges establishes a commercial paper program with a frame amount of SEK 1,500 million as a complement to the Group’s other short term financing.

“The primary purpose of the program is to take a first step into the Swedish debt capital market. Commercial papers are a complement to Gränges other funding, and will help optimise the capital structure as Gränges implements its strategy”, says Gränges CFO and deputy CEO Oskar Hellström.

The term of issue of commercial papers will be shorter than one year. The commercial paper program is expected to have a neutral effect on Gränges financial costs in the current year.

About GrängesGränges is a leading global supplier of rolled aluminium products for heat exchanger applications and other niche markets. In materials for brazed heat exchangers Gränges is the global leader with a market share of approximately 20%. The company develops, produces and markets advanced materials that enhance efficiency in the customer manufacturing process and the performance of the final products; brazed heat exchangers. The company’s geographical markets are Europe, Asia and the Americas. Its production facilities are located in Sweden, China and the United States, and have a combined annual capacity of 420,000 metric tonnes. Gränges has some 1,600 employees and net sales of more than SEK 10 billion. The share is listed on Nasdaq Stockholm. More information on Gränges is available at granges.com.

About Us

Gränges is a global leader in aluminium engineering, manufacturing and innovation. We focus on rolled aluminium products for heat exchangers and selected niche applications. In materials for brazed heat exchangers, Gränges is the global leader with a market share of approximately 20%. Its production facilities are located in Sweden, China and the United States, and have a combined annual capacity of 420,000 metric tonnes. Gränges has some 1,600 employees and net sales of more than SEK 10 billion. The share is listed on Nasdaq Stockholm. More information on Gränges is available at granges.com.

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The primary purpose of the program is to take a first step into the Swedish debt capital market. Commercial papers are a complement to Gränges other funding, and will help optimise the capital structure as Gränges implements its strategy.